The congress comes as smartphone sales in developed markets, mainly Western Europe and North America, are poised to peak this year, according to research firm CCS Insight.

"Unless we see a major new disruption similar to the one prompted by the Iphone's arrival in 2007, we expect smartphone sales in Western Europe and North America to slowly decline after 2017," said CCS analyst Jasdeep Badyal.

CCS predicts the global phone market will reach 2.35 billion units in 2019, up from 1.96 billion in 2014.

'New wave'

With smartphone market saturated in key markets, the battle for profits is shifting away from the handset to other connected devices, analyst say.

Several new wearable products are expected to be unveiled in Barcelona as well as 360-degree cameras and connected objects, from appliances to cars.

"We are searching for a new wave that will fuel growth," said Yves Gassot, the general director of IDATE, a European think tank on the digital economy.